$MAGIC /USDT – Range Compression After Bounce, Watch for Breakout
Current Price: $0.2451
24h High: $0.2602
24h Low: $0.2349
24h Volume: 127.38M MAGIC / 31.56M USDT
Market Overview:
MAGIC has shown slight recovery from the $0.2349 low but is struggling to regain bullish momentum. The price is consolidating near $0.2450 with low volatility and volume compressing — a breakout may be on the horizon.
Key Levels:
• Support Zone: $0.2380 – $0.2340
• Resistance Zone: $0.2520 – $0.2600
Trade Setup:
If price holds above $0.2400 and breaks $0.2520 with volume, we could see a move back toward $0.2600 and beyond.
If it fails to hold $0.2380, a drop toward $0.2250 is possible.
Trade Plan (Long Idea):
• Entry: $0.2440 – $0.2470
• Stop Loss: Below $0.2380
• TP1: $0.2520
• TP2: $0.2600
• TP3: $0.2690 (only if breakout confirms)
Pro Tip:
Wait for strong candle close above $0.2520 before scaling in heavy. Range trading until breakout — stay cautious.